CBDT Notifies New ITR Form ITR-2 for AY 2025-26

CBDT has notified the new ITR-2 form for AY 2025-26 with significant modifications to enhance financial disclosures. Key changes include expanded reporting of foreign assets and income, detailed cryptocurrency transactions, and additional columns for partnership firm interests. The revised form mandates disclosure of all bank accounts (including dormant ones) and requires taxpayers to reconcile book profits with taxable income more comprehensively. These changes aim to improve tax transparency and facilitate data matching with other financial databases. The new format also simplifies reporting for senior citizens and introduces separate schedules for capital gains from different asset classes.